If you’re a digital marketer, you’ve probably heard the term “geofencing,” which refers to our ability to track and serve location-based advertising to customers. But, since July, there’s a new game in town: Optimal GeoSpace. UberMedia – known for pioneering the customer data and social marketing sectors – introduced a more refined version of geofencing that tracks the nuances of your customers’ behavior in real-time format. These insights reveal granular data about when, where, and how your customer journey evolves.
This information helps marketers determine the type of campaigns that are most relevant to your customers and how they like to shop. Most importantly, it allows us to be at the right time, at the right place, with the right content. These breakthroughs are especially important for direct marketing initiatives as well as business planning and investing. Here’s how.
Optimal GeoSpace for direct marketing:
You wouldn’t email your customers about the hottest new winter coat in July (or maybe ever if your customers are based in South Florida like our team of Orlando marketing agency experts). You probably wouldn’t host a blowout sale on boating supplies in a landlocked, desert community. On the flip side, almost every major electronics store runs a Black Friday or Cyber Monday sale because that’s what customers expect. These are the basics of direct marketing. All promotional marketing should be relevant and timely based on your customers’ expectations, seasonality, and purchasing patterns so they are primed to purchase prior to receiving your offer. This concept is simple when you zoom out and look at annual business trends and sales cycles. But Optimal GeoSpace takes this concept one step farther.
Now, imagine your restaurant’s peak hours are between 6:00 pm – 10:00 pm, but you want to begin offering a happy hour starting at 5:00 pm. Instead of blasting your promotional material to every passerby who may or may not be interested, Optimal GeoSpace can help you determine when your target audience’s foot traffic increases and when they area primed to receive a notification about your happy hour. Maybe your ideal customers take a long lunch nearby, so sending them a discount notice during lunch may increase your happy hour attendance. Maybe your restaurant falls on peoples’ commute home, so an invitation to escape rush hour with discounted drinks may serve your needs better. Optimal GeoSpace boosts location-based direct marketing techniques by refining real-time data so you can narrow your messaging and timing to reach the potential customers you want when they want it.
Business planning and investing with Optimal GeoSpace:
As your business expands, Optimal GeoSpace can also help you determine where to branch out. In the same way that this technology tells you when your customers are ready to receive a discount, Optimal GeoSpace can help you identify other areas where your customers are naturally congregating and conducting business. This type of information will help you perform business forecasting that will determine whether an investment (or even rental or leasing price) is worthwhile for a particular venture or expansion.
Optimal GeoSpace can help you choose the best place to open a business so that your location fits your natural business model by highlight people that behave the way your best customers do. Once you’ve found pockets of like-minded customers, you can expand your business to meet and greet them, rather than waiting for them to discover you.
Knowledge is power. And Optimal GeoSpace gives you deeper, more meaningful insights to understand your customers and satisfy their needs. It can give you a leg up on your competitors and help you plan for the future more carefully. Click here to learn more about the variety of analytics and insights tools our team uses to take your business to the next level.